With the world rushing towards more fashionable and cheap wholesale clothing has emerged as a very lucrative business proposition. The best part about this business is that it is evergreen as people would always want to buy garments, but the catch is to maintain low prices to give competition to increasing prices. Rather than opening a regular garments store, wholesale clothing is a better option because you can source branded apparel at cheaper prices and then sell them at a moderate margin. The market of branded apparel increasing daily, you would notice a number of retailers opting to buy from you.
How to venture into the wholesale business?
As a wholesaler, you have two options: import cheap wholesale clothing or get goods manufactured. Many wholesales establish contacts in countries which export clothing at low prices and then sell these clothing at a marked up price in their respective countries. Some have contacts with manufacturers who can manufacture goods as per order and export it to the wholesaler. Thereafter you may set up an online wholesale shop from where you can take orders from retailers. Alternatively there are some wholesalers who like to go in for retailing their goods too. For this you may either set up a store from where both individuals and retailers may purchase clothing from you.
Online wholesale business:
You may also go for an online shopping portal with different pricing for individual buyers and retailers who would pick cheap wholesale clothing in a bulk. Online retailing is becoming very popular at a fast rate as it brings down the administrative costs by a very large number. The costs of space, employees, electricity, general upkeep and many more costs are nullified. All you need is a warehouse, computer with an internet connection and a reliable and cheap delivery partner. These saved costs automatically help in bringing down your costs and making it viable to sell clothing at a lower price.
For online stores you need to have a tie up with a payment gateway for receiving payments from national and international clients. There would also be some fees that you would need to pay to the merchant gateway. It is advisable to take into account all the costs that you would have to undertake and then decide the margins and pricing for the products being sold by you.
Try to keep as much related stock as possible so that the buyer does not find the need to look for another wholesaler while he is there with you. If you are looking at cheap wholesale clothing, make sure you include all the possible garments for men, women, kids and babies. Add in home furnishings and cloth to get better sales too. Initially, you may try to give discounts to the retailer when he buys from more than one product category to help increase the sales.
Wholesale clothing business can also be started by housewives looking at starting a small business. They can import goods from manufacturers who give good discounts and try having a yard sale. You may print some flyers and distribute them in the nearby neighborhood and organize sales once you have a decent number of orders. Alternatively you may also keep a catalog of the manufacturer’s goods and place the order as and when you get a good number of orders. This way you would not need to cater for storing merchandise and have to suffer any loses in case of pilferage or damage due to any other reason. Cheap wholesale clothing businesses are a very lucrative business venture and can help you establish yourself as an entrepreneur.
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